President Trump has abandoned his threatened 20% fee on cargo through the Strait of Hormuz, opting instead for trade deals with Gulf states as the US resumes its blockade on Iranian ports.
Trump Drops 20% Hormuz Fee Threat As Iran Blockade Resumes
President Donald Trump has dropped his threat of a 20% fee on cargo passing through the Strait of Hormuz, saying it will be replaced with trade and investment deals with Gulf states, according to the BBC.
The reversal came after another night of strikes between the US and Iran, with Iran’s Revolutionary Guard Corps hitting two UAE tankers, killing at least two seafarers, per the UN’s maritime agency. Iran also reported explosions near Bandar Abbas and Bushehr, while claiming strikes on US sites in Bahrain and Jordan.
Trump said the Strait remains open to all shipping except Iran’s, with a full blockade targeting only Iranian ports and cargo. The US-imposed blockade on Iranian ports was set to resume at 20:00 GMT.
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